Property taxes are an often-overlooked component of a business’s overall tax liability. However, property taxes are a constant burden a business must bear no matter how profitable the business is or how bad the economy is. Most states levy property taxes on both real property and business personal property. Without proper planning, compliance, and tax mitigation strategies, your business could be paying more than your fair share in taxes. On the other hand, without a proper understanding of your property tax obligations, your business could face an unexpected tax liability with penalties and interest if corrective action is not taken.
Elliott Davis’s State and Local Tax team offer a combination of strategic property tax consulting and compliance services. With a focus on the Atlantic Southeast region states of South Carolina, North Carolina, and Georgia, we can help your company better understand its property tax burden, capitalize on negotiated incentives (such as Fee-In-Lieu-Of-Tax agreements), and prepare your annual property tax renditions. Reach out to our professionals today and let us discuss how we can help your business succeed.